VENICE ISLE HOME OWNERS INC

January 2, 2024

Q:        Is this a resident owned community?

A:         Yes

 

Q:        What is included in maintenance fees?

A:         basic internet, Cable television, lawn mowing, weed eating, up keep of common areas and facilities.

 

Q:        How many homes are in this community?

A:         992

 

Q:        What are my voting rights in the residential cooperative?

A:         The owner of each membership certificate shall be entitled to one vote. Members have the right to vote for the election of directors at the annual meeting of the members and for certain matters that the state law reserved for the members to vote on.  If there is more than one owner, or the owner is a corporation, limited liability company, trust or other form of legal entity, one person must be designated to vote.  If an owner owns more than one membership certificate, he or she shall be entitled to one vote for each certificate.  No members certificate’s vote shall be dividable.  More detailed information can be found in the associations Bylaws.  Please also see “Venice isle, a residential cooperative”.

 

Q:        What restrictions exist on leasing my Unit?

A:         The Lessee may not sublet the whole or any part of the unit or renew or extend any previously authorized sublease unless the association’s board of directors, by resolution, has duly authorized the sublease. More detailed information can be found in section 7 subletting of the amended and restated Rules, regulations and policies of Venice isle adopted May 18, 2021..

 

Q:        How much are the assessments to the residential cooperative for my Unit and when are they due?

A:         The quarterly maintenance fee is $619.00, payable on the first day of January, April, July and October, without demand. There is a remaining special assessment of $152.77 for April 1, 2024.

 

Q:        Do I have to be a member in any other Association?  If so, what is the name of the association and what are my voting rights in this association?  Also, how much are my assessments?

A:         No

 

Q:        Am I required to pay rent or land use fees for recreational or other commonly used facilities?

A:         No

 

Q:        Is the residential cooperative or other mandatory membership association involved in any court cases in which it may face liability in excess of $100,000.00.  If so, identify each such case?

A:         NO

 

Note:  THE STATEMENTS CONTAINED HEREIN ARE ONLY A SUMMARY IN NATURE.  A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS HERETO, SALES CONTRACTS AND COOPERATIVE DOCUMENTS.